The stunning siblings splashed out £1.56million on the former Hollywood Hills abode of Cara's 'Suicide Squad' co-star because they want a Los Angeles base.
A source told The Sun: ''Cara and Poppy are both spending more and more time in LA, and decided the time was right to have a base out there.
''Being so close, the idea of sharing a house seemed a natural step and they're really excited to get hold of the keys and bring their own vibe to the place.''
The two-bedroom home two kitchens, a swimming pool and even a recording studio.
Cara, 24, and Poppy, 31 - who is married to James Cook - both started their careers as models before branching into acting.
Cara is currently starring in blockbuster 'Valerian and the City of a Thousand Planets' alongside Rihanna, while Poppy landed roles in 'King Arthur: Legend Of The Sword'' and 'Kingsman: The Golden Circle'.
Speaking after Poppy landed the 'Kingsman' role, a source said: ''It is her first lead role and she will be starring opposite some of the biggest names in the film industry.
''It speaks volumes that director Matthew Vaughn personally chose her for the part too. He had heard on the grapevine that Guy Ritchie was really impressed with her on King Arthur.
''She'll be playing the baddie and has been getting her teeth stuck in on set already.
''The Delevingnes are in huge demand in Hollywood right now, and this is a pretty big deal for Poppy in the wake of Cara's success in 'Suicide Squad'.''
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